Ksh 1,000,000 loan at African Banking Corporation for 20 years.
At African Banking Corporation's current lending rate of 17.31%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 14,904. Total cost: Ksh 3,577,010 (Ksh 2,577,009 interest).
Monthly repayment
Ksh 14,904
At 17.31% · 240 payments
Total repayment
Ksh 3,577,010
3.58× the borrowed amount
Total interest
Ksh 2,577,009
Ksh 338,415 more than industry avg
Year-by-year amortisation
How each payment splits between interest and principal over time.
| End of year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| Year 1 | Ksh 6,229 | Ksh 172,621 | Ksh 993,771 |
| Year 2 | Ksh 13,627 | Ksh 344,074 | Ksh 986,373 |
| Year 3 | Ksh 22,411 | Ksh 514,140 | Ksh 977,589 |
| Year 4 | Ksh 32,843 | Ksh 682,559 | Ksh 967,157 |
| Year 5 | Ksh 45,231 | Ksh 849,021 | Ksh 954,769 |
| Year 6 | Ksh 59,942 | Ksh 1,013,161 | Ksh 940,058 |
| Year 7 | Ksh 77,412 | Ksh 1,174,542 | Ksh 922,588 |
| Year 8 | Ksh 98,157 | Ksh 1,332,647 | Ksh 901,843 |
| Year 9 | Ksh 122,792 | Ksh 1,486,862 | Ksh 877,208 |
| Year 10 | Ksh 152,047 | Ksh 1,636,458 | Ksh 847,953 |
| Year 11 | Ksh 186,788 | Ksh 1,780,567 | Ksh 813,212 |
| Year 12 | Ksh 228,043 | Ksh 1,918,163 | Ksh 771,957 |
| Year 13 | Ksh 277,034 | Ksh 2,048,022 | Ksh 722,966 |
| Year 14 | Ksh 335,211 | Ksh 2,168,695 | Ksh 664,789 |
| Year 15 | Ksh 404,298 | Ksh 2,278,459 | Ksh 595,702 |
| Year 16 | Ksh 486,340 | Ksh 2,375,268 | Ksh 513,661 |
| Year 17 | Ksh 583,765 | Ksh 2,456,693 | Ksh 416,235 |
| Year 18 | Ksh 699,460 | Ksh 2,519,849 | Ksh 300,540 |
| Year 19 | Ksh 836,848 | Ksh 2,561,311 | Ksh 163,152 |
| Year 20 | Ksh 1,000,000 | Ksh 2,577,009 | Ksh 0 |
Could you get this cheaper?
Currently the cheapest Kenyan lender on this CBK dataset is Citibank N.A. Kenya at 10.36%. The same Ksh 1,000,000 loan over 20 years would run about Ksh 9,890/month — saving Ksh 1,203,425 in interest. See the Citibank N.A. Kenya version →